HDFC Bank Personal Loans - Benefits of HDFC Bank Personal Loans

HDFC Bank, also known as Housing Development Finance Corporation, was established in 1994 and was the first private bank to be authorized by RBI. HDFC is recognized today as one of the most reputable banking institutions in the country and is renowned for its customer-centric services and policies.

HDFC Bank Personal Loan

HDFC Bank provides personal loans to its customers for different financial needs at very affordable rates of interest, along with many other benefits like a hassle-free documentation process, feasible repayment options, top-up loan facilities, and instant loan approvals. mymoneykarma gives you all the information you would want on HDFC Bank personal loans.

Benefits of HDFC Bank Personal Loans

HDFC Bank personal loans come with customer-centric benefits and features. Here are a few highlights of HDFC Bank personal loans.

• Significant loan amounts ranging from a minimum of Rs 50,000 to a maximum of Rs 40 lakhs. The loan amount depends on the applicant's credit score, credit history, repayment capability, and yearly income.
• Long loan tenures ranging from a minimum of 12 months and a maximum period of 5 years.
• Attractive interest rates ranging between 10.99% - 20.00%.
• Complimentary personal accident insurance cover worth Rs 8 lakhs and a critical illness insurance cover worth Rs 1 lakh.
• Loans available for salaried individuals, public and private company employees, and government employees.
• Pre-approved loan if the applicant is an existing customer of HDFC Bank.
• Various feasible repayment channels such as NEFT, post-dated cheques, and online banking.
• Simplified loan application and approval process with minimal documentation.
• Dedicated 24/7 customer service desk for query resolution.
  

Types of HDFC Bank Personal Loans

HDFC Bank offers the following types of personal loans.
Travel Loans

These personal loans from HDFC can be used for planning holidays to exotic locations in India and abroad.

Eligibility Criteria

• Minimum income of Rs 15,000 per month in non-metro cities.
• Minimum income of Rs 20,000 per month in metro cities
• Sound repayment capability
• Competetive credit score
• Minimum age of 21 years
• Maximum age of 60 years
• Minimum work experience of 2 years with a minimum of 1 year at the current organization.
• Must belong to the salaried class of public and private company employees, government sector employees, employees of public sector undertakings, government and other public bodies.     
  

Wedding Loans

These personal loans from HDFC can be used to cover the costs of a wedding in the family or of the applicant.

Eligibility Criteria

• Minimum income of Rs 15,000 per month in non-metro cities.
• Minimum income of Rs 20,000 per month in metro cities
• Sound repayment capability
• Competetive credit score
• Minimum age of 21 years
• Maximum age of 60 years
• Minimum work experience of 2 years with a minimum of 1 year at the current organization.
• Must belong to the salaried class of public and private company employees, government sector employees, employees of public sector undertakings, government and other public bodies.     
  

Home Renovation Loans

These personal loans from HDFC can be used much like a home loan, to cover the costs to upgrade or renovate the applicant’s house.

Eligibility Criteria

• Minimum income of Rs 15,000 per month in non-metro cities.
• Minimum income of Rs 20,000 per month in metro cities
• Sound repayment capability
• Competetive credit score
• Minimum age of 21 years
• Maximum age of 60 years
• Minimum work experience of 2 years with a minimum of 1 year at the current organization.
• Must belong to the salaried class of public and private company employees, government sector employees, employees of public sector undertakings, government and other public bodies.